Weekly Bitcoin Futures Commentary

Peter Ori General Commentary Leave a Comment

Bitcoin (BTCZ21) trading just above $ 47,000 as of this post with a volume of 16000 and range trading between $41000 TO $59000 the last few months. Pressure in Bitcoin is still from the new corona virus threat in my view. Also weighing on Bitcoin is potential FED/FOMC action and inflation issues. Near term support levels in Bitcoin futures have been tested amid the Monday low at 45,730. This comes as over 1.2 BILLION Bitcoin Ethereum …

Grain Spreads: Meal Leads

Sean Lusk General Commentary Leave a Comment

Commentary In my opinion, soybeans were led today by a rally in soymeal. Speculation that Managed money funds bought over 10K contracts putting them long approximately 50k contracts. The market is also focusing on South American weather, which continues to offer a dry outlook through much of Southern Brazil through and Northern Argentina over the next few weeks. In my …

Grain Spreads: Bean Counting

Sean Lusk General Commentary Leave a Comment

Commentary Today, the USDA reported lower-than-expected export inspections of 1.724 million metric tons for the week ended Dec. 9, down from 2.334 (MMT) the previous week and short of expectations ranging from 1.9 (MMT) to 2.3 (MMT). However marketing year to date soybean shipments exceed the seasonal pace needed to hit USDA’s target by 10 million bushels. The big question in …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened lower, rallied to the session high at 81.225, closing the breakdown gap from the low on December 3 at 81.20 to the high on December 6 at 80.925. With the gap closed, sellers took over and the market broke down to the low at 80.20. The breakdown took price just below …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened higher, traded to the session low at 77.40 and rallied the rest of the session to the high at 81.15 and settled near the high at 81.025. The rally gathered steam after getting past resistance at the 50 DMA (78.50) as stops were hit and shorts covered in earnest going into …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: SOY The USDA chose to leave the current balance sheet in place essentially. They reduced the global numbers in a modest fashion. The market has held sideways to firm with a stronger export pace through November. The year on year is still down and looks to continue a down trend in dec with the Brazilian harvesting some early beans. …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: BEANS – The beans rallied today for a couple reasons. The weather in southern Brazil is turning more hot and dry. In addition parts of Argentina and Paraguay. The reality at present though is the majority of the Brazilian crop is in very good to excellent shape. As well as an abundance of old crop stocks. This however is …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened lower, broke down past support at 75.60 to the session low at 75.35. The market found support here and rallied to the high at 77.05 before pulling back and settling at 76.05. The session formed a small bodied candlestick indicating indecision in the market, in my opinion. Cash continues to struggle …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened lower, made the session high at 78.875 and broke down the rest of the session to the low at 76.125. It settled at 76.55. The breakdown took price below support at 76.75 as worries about near term supply is putting pressure on cash and cutout prices. With weights continuing to rise …

Grain Spreads: Soybeans, Where to From Here?

Sean Lusk General Commentary Leave a Comment

Commentary   Beans dropped 11 cents on January and just over 8 cents in the deferred contracts in March, May, and July today. Soon the rubber will meet the road given that ending stocks could potentially continue to be raised by USDA amid a bigger US crop while a plentiful Brazilian crop gets all China’s attention in the weeks to come …